There is also a Premium plan with custom pricing, which has the same features as the Plus plan, but with lower costs to suit businesses processing over £250k per year.
Businesses on the Free plan can accept any Visa, V Pay, Mastercard, Maestro and American Express card (including Apple Pay, Google Pay and Samsung Pay) for 1.75% per transaction through any Square card reader.
Apart from the extra POS features, merchants get a lower card rate for chip, tap and swipe transactions on the Plus subscription: 1.6%.
Payments through Square Online Store, payment links and purchases of e-gift cards cost 1.4% + 25p for European cards and 2.5% + 25p for non-European cards. All other keyed transactions cost 2.5% each, including for email invoices, customer-not-present transactions in the Virtual Terminal and keyed in at the POS checkout.
Standard settlement in your bank account in 1-2 working days is free. Optionally, you can switch on an Instant Transfer setting that pays transactions into your bank account immediately after payments for a 1% fee added to the transaction fee.
Chargebacks and refunds are free to process with Square, and there is no minimum monthly turnover requirement.
Square Reader that connects to the POS software costs just £19 + VAT. The standalone card machine, Square Terminal, is more expensive at £149 + VAT.